https://www.taxtmi.com/caselaws?id=766278 ITAT Delhi quashed PCIT's revision order under Section 263 regarding short-term and long-term capital gains. The assessee provided comprehensive documentation including share trading statements, demat statements with reconciliation, sale/purchase bills, and broker's financial ledger. The AO conducted proper inquiry, examined books of accounts on test-check basis, and concluded no addition was warranted after verifying transaction genuineness. PCIT erred in invoking Section 263 provisions as the assessment was neither erroneous nor prejudicial to revenue interests. Appeal decided in favor of assessee. en-us Wed, 19 Feb 2025 00:00:00 +0530 Fri, 21 Feb 2025 08:23:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766278 ITAT Delhi quashed PCIT's revision order under Section 263 regarding short-term and long-term capital gains. The assessee provided comprehensive documentation including share trading statements, demat statements with reconciliation, sale/purchase bills, and broker's financial ledger. The AO conducted proper inquiry, examined books of accounts on test-check basis, and concluded no addition was warranted after verifying transaction genuineness. PCIT erred in invoking Section 263 provisions as the assessment was neither erroneous nor prejudicial to revenue interests. Appeal decided in favor of assessee. Case-Laws Income Tax Wed, 19 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766278